Diwali offers a good opportunity to teach children about financial responsibility since they’ve witnessed spending on gifts, clothes, and celebrations. Involving kids in money conversations builds lifelong habits.
Explain why the family spent on certain things and saved on others. Discuss pocket money management or the value of saving small amounts from their cash gifts.
To conclude, money conversations in Indian families can sometimes be tricky, especially when multiple generations live under one roof. Ensure everyone feels heard, from breadwinners to homemakers.
Transparent communication prevents misunderstandings and brings the family together to achieve common goals.